Author: Aniruddha Bahal

Aniruddha Bahal

Cash, Commissions and Connected Parties: Cobrapost Exposes Chola’s ₹35,000-Cr Mystery

A detailed investigation by Cobrapost, based on statutory filings and public disclosures, has uncovered a disturbing pattern of large-value cash transactions, opaque related-party dealings, disclosure lapses, and compliance gaps involving Cholamandalam Investment & Finance Company Ltd. (CIFCL). The CIFCL is one of India’s largest listed non-banking financial companies (NBFCs) and a flagship entity of the 125-year-old Murugappa Group. The investigation indicates that transactions aggregating over ₹10,000 crore have been routed over nearly a decade through a complex web of related Murugappa Group entities, family members, and key management personnel (KMP). In addition, CIFCL is found to have deposited approximately ₹25,000…

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